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Name of Course:
: Microeconomics 1
Course Code:
: BT10203
Name(s) of academic staff: Rostika Petrus Boroh
Room No. 19, Level 3, FPEP (3-9-A); Ext. 1544; Email: rpboroh@ums.edu.my

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Rationale for the inclusion of the course/module in the programme:

This subject is school core subject. Business and economics students should have basic
theory and knowledge on microeconomics concepts and theories. This is important
before dwelling with other theories especially in economics study.

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Semester and Year offered: Semester 1 for 1st year students

Total Student
Face to Face
Total Guided and Independent Learning
Learning
Time (SLT)
L = Lecture
L T
P
O
See Appendix
T = Tutorial
P = Practical
O= Others
Credit Value: 3
Prerequisite (if any): Learning outcomes:
At the end of the course, student should be able to:

explain the fundamental concepts and theories of microeconomics (PLO1)(C2, A2)

explain and relate the demand and supply application and elasticity, household
behavior and consumer choice, production process and costs (PLO1)(C2, A2)
analyze and explain the differences among various market structures, pricing
models, and market failures (PLO2)(C4, P3, A2, CTPS)
analyze, apply and relate the knowledge of microeconomics to the economic issues,
analyze, build new ideas of, and evaluate the economic issues (PLO1, PLO3)(C4,
P3, A3, CTPS3)

10. Transferable Skills:

Comprehension skills
Problem-solving skills
11. Teaching-learning and assessment strategy:
Lectures, tutorial, e-learning using SMARTUMS Learning Management System online
quiz, midterm examination, final examination
Project-based learning assessment of assignment

12. Synopsis:
This course is designed to introduce the concepts and theories of microeconomics and
its applications to the real world. This course comprises of four sections stated as
follows: 1) Introduction-introduces microeconomics, its scope and market; 2) Consumer
decision-consumer choice, individual and market demand, and individual as a supplier;
3) Producer decision-production and cost of production; and 4) Market behaviourintroduces perfect competitive market, monopoly, monopolistic competition and
oligopoly, as well as market failures.
13. Mode of Delivery:
Lecture, Tutorial, Project paper & e-learning
14. Assessment Methods and Types:
The assessment for this course will be based on the following:
Component
Weight
Quiz
10%
Tutorial Exercises
10%
Assignment
20%
Mid-term evaluation
20%
Final examination
40%
Total
100%
All components of the above assessment are compulsory and must be completed before
the stipulated deadline.
15. Mapping of the course/module to the Programme Aims:
Refer to attached Program Summary Matrix
16. Mapping of the course/module to the Programme Learning Outcomes:
Refer to attached Program Summary Matrix

17. Content outline of the course/module and the SLT per topic: (See Appendix)
Weekly Topic

Chapter
/Tutorial
Discussion
Chapter 1

Introduction to Microeconomics
Week 1
- Why study Economics?
- Scarcity, Choice and Opportunity Cost
- The Production Possibilities Frontiers
- Economic Systems
Demand and Supply
Week 2
- The Circular-Flow Diagram
- Input and Output Markets
- Market Equilibrium
Household Behavior and Consumer Choice
Week 3
- Household Choice in Output Markets
- The Basis of Choice: Utility
- Income and Substitution Effects
Elasticity and its application
Week4
- Price elasticity of demand
- Determinants
- Application of elasticity concept
Externalities, Public Goods and Social Choice
Week 5
- Externalities and Environmental Economics
- Public Goods
- Social Choice

Chapter 2, 3

Chapter 9

Chapter 4

Chapter 5

MID-TERM EVALUATION
Week 6
The Production Process
Week 7
- The Behavior of Profit-Maximizing firms
- The production Process
- Short-Run and Long-Run Costs of Production
Pure/Perfect Competition in the Short Run
Week 8
- Characteristics and Occurrence
- Profit maximization in the Short Run
Pure/Perfect Competition in the Long Run
Week 9
- Profit maximization in the Long Run
- Pure competition and efficiency
- Technology Advance and Competition
Monopoly
10
-Imperfect Competition
- Pure Monopoly
- The Social Costs
Monopolistic Competition and Oligopoly

Chapter 10

Chapter 11

Chapter 12

Week

Chapter 13

Chapter 14

The Demand for Resources

Week 12
-Determinants of Resource Demand
-Elasticity of Resource Demand
-Optimal Combination of Resources
Wage Determination
13
- Labour, Wages, and Earnings
- General Level of Wages
- Wage Differentials
* Natural Resource and Energy Economics
Week 14
- Renewable Resources
- Nonrenewable Resources
* Additional for contemporary economics scenario
18. Main textbook :

Chapter 15

Week

Chapter 16

Chapter 18

1. McConnell, C. R., Brue, S. L., Flynn, S. M., Grant, R. (2012) Economics, 20th ed.
Singapore: McGraw-Hill/Irwin.
Additional references :
1. Pindyck, R. S. & Rubinfeld, D. L. (2013) Microeconomics, 8th ed. Singapore:
Pearson.
2. Case, K. E. , Fair, R. C. & Oster, S.M (2012) Principles of Microeconomics, 10th ed.
United States: Pearson Education Limited.
3. Case, K. E. & Fair, R. C. (2007) Principles of Microeconomics, 8th ed. United
States: Prentice-Hall.
4. Frank, Robert H. & Bernanke, Ben S. (2007) Principles of Microeconomics, 3rd ed.
Boston: McGraw-Hill Irwin.
5. Baumol, W.J. & Blinder, A.S. (2003) Microeconomics: Principles and Policy, 9th ed.
United States: Thomson TM SouthWesatern.
6. Nicholson W. (2002) Microeconomic Theory: Basic Principles and Extension, 8th
ed. New York: The Dryden Press.
7. Vengedasalam, D., Madhavan, K. & Kamaruddin, Rohana. (2008) Microeconomics.
Kuala Lumpur: Oxford University Press.
19. Other additional information:

E-learning materials available at SMARTUMS (Learning Management System)

Week 10 Students to fill in course evaluation online. Compulsory for all students.

20. NOTES:
Students will be assigned into one of the tutorials
All students are compulsory to attend all lectures and tutorial classes.
In case of absence, a FORMAL letter with reason(s) is to be written